Twinings Ovaltine Opens £24m Lagos Manufacturing Facility

Twinings Ovaltine Opens £24m Lagos Manufacturing Facility

A new £24 million manufacturing facility by Twinings Ovaltine in Lagos has been unveiled, marking a major investment boost as President Bola Ahmed Tinubu continues his state visit to the United Kingdom aimed at deepening economic ties.

The development, announced by the British High Commission in Abuja, underscores growing bilateral trade and investment flows between Nigeria and the UK, with both countries ramping up business activities across sectors.

The Lagos facility, the company’s first manufacturing base in Africa, is expected to create over 100 direct jobs while strengthening exports across West Africa.

The announcement comes as Tinubu, accompanied by First Lady Oluremi Tinubu, is in the UK for a high-level state visit that has attracted significant business commitments and policy engagements.

The British government said the visit highlights its ambition to position the UK as a preferred destination for African investment, while also encouraging British firms to tap into Nigeria’s fast-growing market.

Business and Trade Secretary, Peter Kyle, said the latest investments demonstrate the strength of economic cooperation between both countries.

“The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that,” he said, noting that the partnerships are delivering tangible benefits for citizens of both nations.

Also speaking, UK Deputy Prime Minister, David Lammy, described the relationship as a strategic partnership driving growth and opportunity.

“We are reducing barriers, creating jobs and opening new pathways for growth. I am proud that the cultural and commercial bonds between our nations are thriving,” he said.

Beyond the Twinings Ovaltine investment, several Nigerian financial institutions and fintech firms are expanding their footprint in the UK, further strengthening economic linkages.

Zenith Bank has opened a new branch in Manchester, expected to create about 30 jobs, while Fidelity Bank is scaling up its UK operations following the rebranding of its subsidiary.

Other Nigerian firms, including LemFi, Moniepoint and Kuda Bank, are also ramping up investments, with plans to expand their workforce and deepen operations in London and beyond.

According to the British High Commission, Nigerian businesses now support at least 1,000 jobs in the UK, with further growth expected as more companies scale internationally.

The statement added that bilateral trade between both countries has reached an all-time high of £8.1 billion annually, driven by cooperation in financial services, technology, education, and creative industries.

The ongoing engagements are being facilitated under frameworks such as the Enhanced Trade and Investment Partnership, which aims to reduce trade barriers and unlock new opportunities for businesses.

Analysts say the combination of UK investments in Nigeria, such as the Twinings Ovaltine plant, and Nigerian expansion into the UK market reflects a maturing economic relationship that is increasingly driven by private sector collaboration.

With Tinubu’s visit ongoing, expectations are high that more agreements and partnerships will emerge, further strengthening ties between Africa’s largest economy and one of the world’s leading financial centres.